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Chapter 5 — Application of the CECL Model to Off-Balance-Sheet Commitments, Trade and Lease Receivables, and Reinsurance Receivables

5.2 Trade Receivables and Contract Assets

5.2 Trade Receivables and Contract Assets

Footnotes

2
Entities may need to apply significant judgment to determine whether the transaction price should be adjusted to account for a significant financing component. See ASC 606-10-32-15 through 32-20 for more information.
3
For simplicity, only the journal entries at contract inception and for annual reporting periods are provided.